Commercial Cards Lean Into Data Integration Opportunity

PYMNTS.com | October 24, 2019

Commercial Cards Lean Into Data Integration Opportunity
Commercial cards remain a small, but growing, part of the B2B payments ecosystem, thanks in part to their versatility. The latest in commercial card innovation reflects that, with new solutions ranging from cards designed for small businesses with high travel spending to products designed with more flexible credit limits for cash-strapped startups. But a commonality in the latest offerings from Visa, American Express and Brex is the industry’s embrace of data, and data integration.

Spotlight

Ireland has an exceptional tourism offering and the sector is of critical importance to the economy. To ensure the sector continues to grow in a sustainable manner, it is essential that a clear policy framework is in place.

Related News

TRAVEL TECHNOLOGY

CLEAR S-1 Proves Biometrics' Growth Beyond the Travel Industry

CLEAR | June 09, 2021

Biometrics are poised to make the leap beyond airports and act as a passport to any number of environments where crowds gather in post-COVID reopening. To that end, biometric security firm CLEAR filed its S-1 with the Securities and Exchange Commission (SEC), paving the way for an initial public offering (IPO) on the New York Stock Exchange. CLEAR may arguably be best known for its origin that ties into creating “a frictionless travel experience while enhancing homeland security,” as described in the prospectus. At a high level, the company’s biometric security service offers subscriptions to its services, speeding up passenger flow through TSA lines at the airport. But branching into other use cases shows how fungible, in a way, biometrics tech can be, where knowing who is who — for admission, for security, or commerce — is an essential deployment. But along the way, as CLEAR’s filing shows, the pivot beyond travel — where demand is only now recovering from the ravages of the pandemic — will help determine whether the firm will see ignition. CLEAR points to the “convenience economy” as a critical driver for using biometrics in a bid to streamline everyday interactions. Tracking The Enrollments Digging into the prospectus, since inception, there have been 5.6 million cumulative enrollments, with 61 million cumulative use cases across its platform. Along with the decline in travel-related activity, first-quarter revenues slipped 17 percent as U.S. domestic flyers dropped by 60 percent. But the company remarked in its prospectus that a trend in its favor would be the reopening of and return to secular growth in the travel industry. As travel declined, cumulative enrollments on the platform were up more than 12 percent, to 5.2 million. Looking across the entire year, revenue was up 20 percent to 230.8 million in 2020, while net loss narrowed to $9.3 million from $54.2 million. Moreover, the company has debuted its Health Pass app, which stores healthcare-related data such as COVID test and vaccine records, which can help members show credentials required to enter a sporting event. CLEAR has partnered with 26 sports and entertainment partners and 67 Health Pass-enabled partners. That reach helps give coverage to 110 locations, including offices, theaters, and theme parks. Launched in 2010, CLEAR’s biometric security service is popular among frequent fliers who purchase subscriptions for $179 a year. Along with gaining the ability to speed through airport lines, subscribers can also use the service at sports stadiums and entertainment venues. Looking Toward Scale CLEAR defines the total addressable markets, by vertical, as being rather significant. In aviation and travel, 90 million American adults fly at least twice annually, while 31 million flies at least six times annually. In hospitality, there were 1.3 billion room nights occupied in 2019, pre-pandemic, in the U.S. Per data from ESPN, across major sports leagues, there were 130 million sports attendees in 2019. The movement into adjacent use cases depends on how many consumers embrace $179 annual subscriptions (the price of Clear PLUS) and whether the populations that do so will justify partners signing on with the technology platform.

Read More

Zeno introduces enhanced airline safety data and advanced hotel search filters to support traveler wellbeing

Zeno | August 14, 2020

Serko Limited, a leader in online travel booking and expense management for business, announced the introduction of enhanced information on airline COVID-19 measures in Zeno, the next generation travel management application, to help travelers make more informed flight purchase decisions. Zeno now provides standardized information on airline offerings including mask requirements, pre-flight temperature checks, passenger capacity, blocked adjacent seats and aircraft cleaning. The data makes it easy for travelers to compare different airline measures at a glance, and helps travel managers to determine which providers meet the safety and traveler well-being standards of their travel programs.

Read More

WTTC Warns Travel Restrictions Can Stop COVID-19 Recovery for Travel Industry

The World Travel & Tourism Council | July 22, 2020

The World Travel & Tourism Council (WTTC) is warning that a return to country-wide border closures and blanket travel restrictions could derail the industry's recovery, stalling global economic growth. As a result, the organization is urging governments around the world to respond to spikes in COVID-19 cases with regional and local measures. WTTC said it also supports the opening of city to city "air corridors" connecting global financial centers like London and New York that would jumpstart business travel. According to WTTC research, business travelers account for $1 in every $3 spent in New York and £1 out of every £4 spent in London.

Read More

Spotlight

Ireland has an exceptional tourism offering and the sector is of critical importance to the economy. To ensure the sector continues to grow in a sustainable manner, it is essential that a clear policy framework is in place.